Allstate Corp Increases Holdings in Interactive Brokers Group, Inc. $IBKR

Allstate Corp boosted its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 105.0% in the 4th quarter, Holdings Channel reports. The fund owned 33,535 shares of the financial services provider’s stock after buying an additional 17,178 shares during the period. Allstate Corp’s holdings in Interactive Brokers Group were worth $2,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of IBKR. National Pension Service boosted its holdings in shares of Interactive Brokers Group by 2.2% during the third quarter. National Pension Service now owns 707,634 shares of the financial services provider’s stock worth $48,692,000 after purchasing an additional 15,339 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Interactive Brokers Group by 36.8% in the third quarter. Jones Financial Companies Lllp now owns 26,875 shares of the financial services provider’s stock valued at $1,777,000 after acquiring an additional 7,234 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Interactive Brokers Group by 15.0% in the third quarter. State of Michigan Retirement System now owns 120,400 shares of the financial services provider’s stock valued at $8,285,000 after acquiring an additional 15,684 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Interactive Brokers Group by 1,221.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,728 shares of the financial services provider’s stock valued at $5,073,000 after acquiring an additional 68,148 shares during the last quarter. Finally, Hartford Investment Management Co. acquired a new position in Interactive Brokers Group in the third quarter valued at $1,798,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IBKR shares. Keefe, Bruyette & Woods started coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 target price on the stock. Zacks Research cut Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Jefferies Financial Group reduced their target price on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Piper Sandler lifted their target price on Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $98.00 target price on Interactive Brokers Group in a report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Interactive Brokers Group has a consensus rating of “Moderate Buy” and an average target price of $83.25.

Insider Activity at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the transaction, the director owned 173,482 shares in the company, valued at $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Interactive Brokers Group Price Performance

Shares of IBKR opened at $83.11 on Friday. The stock’s 50-day moving average is $76.65 and its two-hundred day moving average is $71.86. The stock has a market cap of $140.98 billion, a PE ratio of 35.82, a P/E/G ratio of 2.24 and a beta of 1.32. Interactive Brokers Group, Inc. has a 12 month low of $49.15 and a 12 month high of $88.44.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.94 earnings per share. On average, research analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.0875 per share. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.08. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. Interactive Brokers Group’s payout ratio is presently 13.79%.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc (NASDAQ: IBKR) is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.